There are countless posts on the admissions process, but i think we've lost sight of one decisive matter, namely how are we to fund our LL.M. once we've made a choice about which law school to study in?. Where do most students get their finances? Do the majority of LL.M. students only rely on taking out a loan? or is it a blend of scholarships, loans, personal savings and parental assistance? I think that this is one of the main issues begging to be brought forward in this discussion threads, therefore i suggest that we keep our heads well on our shoulders and start discussing about how are we supposed to meet up the hefty cost of a US University Education.

personal savings

Funding advice will depend on your background cos most funds are targeted at particular groups like women, ethnic minorities, etc. Your area of specialisation (eg. Law and Development or Environmental Law) could also be relevant. So give us your background and your area of specialisation and then, we may have one or two useful suggestions.
Cheers

To date, I have been awarded a scholarship from the Finnish Fulbright-center (28,000 U.S.$) and from one Finnish foundation (29, 500 U.S.$). Now I just need one offer! I think using personal savings sounds pretty expensive, I hope you have calculated the cost and the benefit. Of course, it may be difficult to get big scholarships in many countries. Everyone should also take into account that at least Harvard and Yale are pretty generous with financial aid (or so I've heard). Have you applied for any scholarships in your home country (or the US)?

funding the LL.M. is of course one of the core issues and to many people finally joining an LL.M. course is largelly contingent upon schols..so here are th options tht i cud think of:
1)University Scholarship
2)Financial aid from the University
3)External Scholarship (from home country or some int'l organisation)
4)Savings/Parents
5)Part-time work to meet 'some' living expenses

first two are 'internal schol options' while th last two are purely personal..
normally ther r lots of external schols offered by foundations and your government (and even th US government - fulbrght's just one of thm) bt its not always easy 2 get thm n you normally hav to apply very early (upto a year in advance for say Rotary Ambassadorial Schols)..
also you can contact American embassy coz they normally keep a booklet or something mentioning th funding possibilities..
best of luck..

Thank you for your comment. Where i live (DR) the only american embassy scholarships at hand are the fulbright exchange programs. I'm not leaned toward applying to this scholarships because they usually select the school you're going to,and i'll also have to brood for a year since classes always start the coming year and not the year of the application. I wish to enroll this 2006 fall. In an attempt to make my dreams come true, i've applied to one government fellowship, but my chances could be scanty as Legal Studies Scholarships are not easily awarded. Most Financial Aid Programs prioritize core fields to be priviliged with assistance, and in my country's case the technological, educational and scientific fields are more honored with the help of the government. Therefore, lawyers are in the most downtrodden state when it comes to being deemed eligible for legal studies funds. I also hope i'll be granted some aid from the Universities i applied this year.

As to the Loan, Do you take it as worthwhile to take out a loan to cover up the whole living and tuition expenses? Are LL.M. graduates in an able position to repay the loans 6 months after graduation? How do you assess the risk of requesting loans as opposed with the benefits you might gained? Do you know of anybody whose financial concerns were soley met with loans? If so, how is this person doing after getting his/her degrees?

Hi Roberto 27,
I have the same problem like you. Did you ask directly ask the universities for financial aid?I found the webpage Finaid.org butI´m not sure if they are okay. You can give them your personal details and they search a scholarship. I didn´try it by myself.Unfortunatly my grades are not so good. That´s why I think I won´t get it. But do you know where are scholarships based on other criteries?

I think using a bankloan to finance your studies is bit risky. I wouldn't count much on the presumption that an LL.M. degree willmake you richer. It has been repeatedly emphasized on this board that finding a job in the US is extremely difficult for foreigners (lawyer's job, that is). You should find out how much more money you will make in your homecounty after graduation. My hunch is that in Nordic countries LL.M. graduates don't earn more than other lawyers in similar positions. Calculate, then, whether you pay back the loan. A year abroad is a great experience, and worth the money, but remember: you have to pay it back and LL.M degree will probably not make you rich.

i agree..i would not go for a bank loan unless am going to harvard or something!! because payin thm back could be a problm..not to dicourage you (coz many int'l students take loans) but just a word of caution..
but in any case if at all you decide to take a loan then do compare interest rates in USA with those in your country..take loan from werver its cheaper (if u take it from an american bank you would need an american co-signor)..

Very thankful for the way you have answered my queries.
I think you're right when stressing that an LL.M. degree will certainly not make you wealthy and so we should ponder any financial matter with extreme caution and foresight. After all, when you've made the mature decision of taking out a loan, you have to be well aware that it is your responsibility and not someone else's to repay it entirely and in a timely manner, all the more so 'cause other people's interests could be engaged upon your default, e. x. your US or home-country co-signers. However, i hold that the prospects of finding a better job back in your country of nationality are significantly raised once you're earned your graduate diploma. Therefore, i think you may be in a good position to repay the loan with less risk. As for Universities Financial Aid, i've requested the assistance of Northwestern University School of Law Financial Aid Office, but it is said that only 5-7 people are priviliged with fellowships. Nevertheless, the financial Aid Office also offers the option of University-run loan programs with the attractive interest rate of 3.5 though the repayment of capital and interests will have to be settled by the 10 year deadline. Is it worthwhile to petition a loan in order to attend Northwestern University School of Law?
I''ve also applied to Columbia and Michigan, i'm waiting for their answering me though.

Once Again, i thank you for your responses. Bye!

All the above is interesting information...but does anyone know a specific webpage with a good full list of scholarships for LLM studies?